Consumer prices in Canada rose 0.7 percent year-on-year in June 2020, following a 0.4 percent fall in May and above market expectations of a 0.3 percent gain. It was the biggest increase in consumer prices since March 2011, as cost of transport rebounded (0.1% vs -3% in May), as gasoline prices dropped at a slower pace for the second successive month (-15.7% vs -29.8%) mainly due to higher demand amid the gradual reopening of businesses and public services and a general rise in local travel. Also, prices increased further for shelter (1.7% vs 1%); and alcoholic beverages, tobacco products & recreational cannabis (0.6% vs 0.2%). Additionally, cost decreased less for clothing & footwear (-2.6% vs -5.4%) and recreation, education & reading (-1.4% vs -2.6%). On the other hand, prices slowed for food (2.7% vs 3.1%); and health & personal care (0.5% vs 0.9%). On a monthly basis, consumer prices went up 0.8%, the most since January 2017, following a 0.3% rise in the prior month.
Inflation Rate in Canada averaged 3.12 percent from 1915 until 2020, reaching an all time high of 21.60 percent in June of 1920 and a record low of -17.80 percent in June of 1921. This page provides - Canada Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Statistics Canada
Inflation Rate in Canada is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Canada to stand at 1.10 in 12 months time. In the long-term, the Canada Inflation Rate is projected to trend around 1.70 percent in 2021 and 2.20 percent in 2022, according to our econometric models.